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  • MABUX: Bunker market this morning, Aug 17
  • 2020 August 17 08:37

    MABUX: Bunker market this morning, Aug 17

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs demonstrated slight downward changes on August 14:

    380 HSFO: USD/MT 308.49 (-0.44)
    VLSFO: USD/MT 366.00 (-1.00)
    MGO: USD/MT 446.54 (-0.38)

    Meantime, world oil indexes declined on Aug. 14 after disappointing retail sales data raised doubts about the strength of the U.S. economic recovery.

    Brent for October settlement decreased by $0.16 to $44.80 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for September fell by $0.23 to $42.01 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.79 to WTI. Gasoil for September delivery lost $2.00.

    Today morning oil indexes increase following news that China plans to increase imports of U.S. crude in the coming months. However, new COVID-19 outbreaks capped gains.

    Oil indexes had hit a five-month high on Aug.13 after the U.S. Energy Information Administration confirmed a bigger-than-expected fall in inventories of crude, gasoline and other distillates last week. That was the third consecutive week of stock declines, with inventories declining by almost 22.5 million barrels over that, despite a new wave of the Covid-19 virus having impacted business performance in most U.S. states since July.

    And while a new wave of the pandemic across the world generates enough concern about the immediate demand for energy, the market can expect more support in the coming week that can come from OPEC+. The alliance will meet on Aug.19 to review the market amid efforts to roll back some two million barrels from production cuts of around 9.6 million barrels per day agreed to in May.

    Oil prices gained some support from news, that, tankers have been tentatively booked by Chinese state-owned oil firms to carry at least 20 million barrels of U.S. crude for August and September. There has also been a recent spike in purchases by China’s state-owned oil and gas firm PetroChina and its largest refiner Sinopec Corp. China is already expected to import record 32 million barrels of U.S. oil in August. This has eased worries that China, a top U.S. crude buyer, will not meet its purchase commitments under phase one of the trade deal between the two countries.

    However, a worsening COVID-19 situation in multiple places around the world has put the brakes on further gains. In the U.S. deaths surpassed 170,000, according to Johns Hopkins University data. Singapore has also recorded 86 new cases on Aug.16. New Zealand entered new lockdowns after recording several dozen cases of Covid-19 despite going 100 days without any new community outbreaks.

    Baker Hughes reported on Aug.14, that the number of combined oil and gas rig count in the US fell yet again this week by 3, to 244, as the pandemic continues to batter the oil and gas industry. Total oil and gas rigs in the United States are now down by 691 compared to this time last year. The number of oil rigs slipped for the week by 4 rigs for the second week in a row, bringing the total to 172, compared to the 770 active oil rigs this time last year. As the rig count declines, U.S. crude oil production is expected to fall by 990,000 barrels per day (bpd) this year to 11.26 million bpd, the U.S. Energy Information Administration (EIA) said on Aug.13, a steeper drop than its forecast last month for a 600,000-bpd fall.

    The United States said on Aug.14 it had confiscated four Iranian fuel shipments that had been bound for Venezuela, disrupting a key supply line for both Tehran and Caracas as they defied U.S. sanctions. U.S. President Donald Trump said Iran should not be sending cargoes to Venezuela and added that the seized shipments were bound for Houston, Texas, and suggested they may have already arrived. The U.S. Justice Department said the seized cargo was now in U.S. custody "with the assistance of foreign partners," adding that the amount confiscated from four tankers was about 1.116 million barrels of fuel, making it the largest-ever U.S. seizure of Iranian fuel. Venezuela had already paid for the fuel and hence Iran will not lose any revenue from the confiscation.

    We expect bunker prices may demonstrate downward changes today: 1-3 USD down for IFO and 1-3 USD down for MGO.

2021 October 20

12:52 Japanese company Kubota chooses port of Rotterdam for Northern European distribution
12:39 Crowley participates in Saildrone Inc’s $100M Series C round to advance ocean intelligence products
12:02 Global Ports terminal In Helsinki increases number of container services
11:54 Port Houston container volumes up 11% to 281,500 TEUs in September 2021
11:40 Sibanthracite Group acknowledged as best supplier of coal to China for second consecutive year
11:16 MPA and DMU signed MoU to drive talent and academic exchange in the maritime sector
10:51 Mitsubishi Shipbuilding successfully separates and captures CO2 from exhaust gas in world’s first marine-based CO2 capture system project
10:28 Modernization of border checkpoint completed in Kavkaz seaport
10:06 RF President gives instructions on permanent environmental monitoring in areas of handling dry bulk cargo and cargo emitting dust
09:45 MABUX: No firm price trend on Bunker market on Oct 20
09:35 Crude oil prices decrease on US reserves growth
09:19 Baltic Dry Index as of October 19

2021 October 19

18:24 Ocean Yield ASA sells two LR2 tankers
17:44 Klaveness Combination Carriers sells a 21-years old CABU vessel
17:22 Oboronlogistics delivers cargo for the construction of a cultural cluster in Kaliningrad
16:58 North Sea Port, Zeeland Regional Safety Board and Central Fire Response Zone join forces for cross-border incident response in the port area
16:35 European shipowners support the uptake of clean fuels but fear FuelEU may become missed opportunity due to enforcement loopholes - ECSA
16:20 9M’2020 throughput of Taganrog Sea Commercial Port grew by 6% Y-o-Y
16:05 Fuelling the Industry: LNG as a fuel and its infrastructure at the 8th International Congress
16:04 Empire Offshore Wind selects Vestas as its preferred supplier for wind turbine generators for Empire Wind I and Empire Wind II
15:41 The decarbonization strategy likely is now the best business strategy for shipowners - ABS
15:13 Bollinger celebrates commissioning of 45th Fast Response Cutter USCGC Emlen Tunnel
14:51 RF Government and Rosatom instructed to organize regular transportation of transit cargo by NSR
14:30 Port of Rotterdam throughput rises substantially again in Q3 2021
14:03 Valenciaport throughput up 8.33% to 63.46 mln tonnes in Jan-Sept 2021
14:02 Ice restrictions in Port of Sabetta basin to be effective as of Oct 25
13:39 TGE Marine announces the successful gas trail of LNG bunker vessel ´Dmitry Mendeleev´
13:08 Port of Antwerp throughput up by 4.8% to 179.1% mln tonnes in Jan-Sept 2021
12:54 Cargo traffic via Khabarovsk Territory ports rose by 3% in 9M’21
12:33 Vitol’s V-Bunkers receives green ship awards from Maritime Port Authority of Singapore
12:15 The Methanol Institute welcomes the European Union’s package of proposals Fit for 55
11:36 Volga Shipping announces completion of three tankers conversion project
10:46 MABUX: Bunker prices may demonstrate multidirectional changes on Oct 19
10:11 Russian Gas Society supports 5th LNG Fleet, LNG Bunkering and Alternatives conference
10:09 Berenberg expands debt fund portfolio with two new multi-investor funds
09:46 Baltic Dry Index as of October 18
09:25 Crude oil prices rise on crisis anticipation
09:13 Roxtec selects Sustainable Marine Fuels

2021 October 18

18:07 OneOcean Group brings voyage optimisation solutions to Marlink Partner Programme
17:53 NOVATEK held its first Arctic LNG Projects Shipowners Conference
17:49 MOL tabletop drill prepares for serious marine accident
17:29 Over 40 ships and boats of RF Navy's Black Sea Fleet took part in large-scale exercise at Opuk training ground in Crimea
16:52 Icebreaker Kapitan Khlebnikov to help deliver new components for the Vostok Station in the Antarctic
16:16 Throughput of Russian seaports in 9M’2021 climbed by 1.7% (detalization)
15:48 Four industry focused educational institutions to take part in 5th LNG Fleet, LNG Bunkering and Alternatives conference
15:25 Baltiysky Zavod shipyard casts forth one-piece propeller for Project MR-50 product tanker
15:03 Nemport orders fleet of Konecranes Noell RTGs
14:13 Average spot market price for Russian M100 product rose to RUB 29,186 pmt
13:51 MOL, MAN ES and MES-M sign MoU aiming to order ammonia fueled main engine for ships
13:42 National Chamber of Engineers supports 5th LNG Fleet, LNG Bunkering and Alternatives conference as its Media Partner
13:00 Port of Ventspils throughput in January-September 2021 fell by 14% YoY
12:40 The Port of València will install a hydrogen supply station in January
12:36 Port of Helsinki throughput in January-September 2021 rose by 7.9% YoY
12:14 Port of HaminaKotka cargo turnover in 9M’2021 fell by 2.1%
11:29 Container throughput of Hong Kong port (China) in January-September 2021 rose by 0.1%
10:57 APM Terminals appoints new Head of Decarbonisation
10:48 Port of Liepaja throughput in 9M’2021 climbed by 8% Y-o-Y
10:25 Global Ports’ Consolidated Marine Container Throughput increased by 4.0% y-o-y in 9m 2021
09:53 MABUX: Bunker prices may rise on Oct 18
09:46 Northern Sea Route cargo traffic rose by 4.5%